LONDON – Eros Innovation, a global media and intellectual property company, announced on Thursday it has completed approximately $150 million in capital and strategic transactions to accelerate its transformation into an AI-driven entertainment platform.
The deals include a $50 million primary investment led by Plenitude Capital and advised by Greenback Capital at the Dubai International Financial Centre (DIFC), and roughly $100 million in acquisitions of creative and technology assets, the company said.
Founder and Chairman Kishore Lulla said the moves reinforce the company’s strategy to build an “integrated stack” across content, computation, and cultural intelligence.
“With over $1 billion in assets, $150 million in new capital and acquisitions, $35 million in EBITDA last year, and a clear trajectory to exceed $100 million by December 2026, Eros Innovation is scaling with both profitability and discipline,” Lulla said in a statement.
The company, which boasts a $2 billion independent valuation, said it holds no external debt and is generating positive free cash flow.
A core part of its strategy is Eros GenAI, a proprietary AI platform developed with IIT Chennai. The company bills it as India’s first “sovereign cultural AI stack,” trained on 1.5 trillion cinematic, musical, and cultural data points. The platform powers tools for video generation, voice dubbing, and avatar creation.
The capital will be used to expand Eros Innovation’s AI infrastructure, develop immersive content, and grow its intellectual property (IP) portfolios.
As part of the strategic expansion, Eros Innovation is acquiring London-based immersive entertainment studio Empirical Wax. The deal will bolster its capabilities in live avatar concerts and mixed-reality productions.
Concurrently, the company has acquired a $97 million IP portfolio of films, music, and digital content, which will both expand its licensing library and enrich its AI training data.
Eros Innovation’s ecosystem now includes over 80 million subscribers, 12,000 film titles, and a global fan base of more than 2 billion people. These assets will underpin the forthcoming “Eros Universe Super App,” a character-led platform designed to allow creators and fans to co-create and monetize content.
Headquartered in the Isle of Man, Eros Innovation has operations in London, Los Angeles, Abu Dhabi, Mumbai, and Chennai.